Finisar Rises On Unusually High Volume (FNSR)
NEW YORK (TheStreet) -- Finisar Corporation (Nasdaq:FNSR) is trading at unusually high volume Thursday with 12 million shares changing hands. It is currently at four times its average daily volume and trading up $1.28 (+6.3%) at $21.57 as of 1:55 p.m. ET. Finisar has a market cap of $1.89 billion and is part of the technology sector and computer hardware industry. Shares are up 21.2% year to date as of the close of trading on Wednesday. Finisar Corporation designs, develops, manufactures, and markets optical subsystems, components, and network performance test systems for high-speed data communications in the United States, Malaysia, and the People's Republic of China, and internationally. The company has a P/E ratio of 40.4, above the average computer hardware industry P/E ratio of 37.9 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Finisar as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins. You can view the full Finisar Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.
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